Wall Street firms are buying back stocks after Trump tweet: WSJ

Wall Street has bought back about $4.2 trillion of stock since President Donald Trump’s tweet that Wall Street would no longer be able to trade in US securities after he leaves office.

That represents an average of about 8% of all US stocks traded since the tweet, according to data from FactSet, a data company.

It is a significant reversal from the Dow Jones Industrial Average’s 4.3% return in early January, which rose as the president took to Twitter to criticize the stock market.

Trump also said the stock markets would be closed in the event of a nuclear attack on the United States, which would likely cause a global financial crisis.

He also warned that if China tried to undermine US economic power, “the U.S. will shoot back, and we will have no choice but to defend ourselves.”

The Dow rose more than 300 points on Thursday after trading up more than 5% on Friday.

The Nasdaq Composite rose 1.2% on Thursday to reach a record high.